Why is Bitcoin price down today?

Despite lower than expected United States inflation data which showed a 3.2% yearly increase, the bullish momentum that propelled Bitcoin (BTC) to 31.8% 30-day gains is waning on Nov. 14. Bitcoin price appeared overheated with close to $100 million liquidated within an hour, even after traditional markets reacted positively to flat month-over-month inflation. 

The contraction in Bitcoin price has not worried all analysts, with some believing Bitcoin is starting a path to $48,000.

Bitcoin price. Source: TradingView

Let’s take a closer look at the factors impacting Bitcoin price today.

$126 million in Bitcoin longs were liquidated

A sharp movement in the Bitcoin futures market appears to…

Read more on Cointelegraph

29.6K Reads